Ora Banda Mining taps Euroz Hartleys, Petra for placement

Petra

The Australian Financial Review

ASX-listed gold play Ora Banda Mining is on the hunt for an injection of fresh capital.

The company had brokers Euroz Hartleys and Petra Capital in the market with a $21 million placement on Friday morning, which would be followed by a $4 million share purchase plan.

Shares in the deal were being sold to funds for 17¢ each. The company’s shares last traded at 20¢ on Thursday.

The raising comes almost a year since Ora Banda last made a trip to the equity markets, for $55million in July.

Money raised in that deal were used for the refurbishment and recommissioning of the the Davyhurst processing plant, part of Ora Banda’s gold project 120km north west of Kalgoorlie.

Ora Banda’s shares went into a trading halt on Friday morning.